On 1 June 2026, the Joint Money Laundering Steering Group (JMLSG) published a consultation paper setting out proposed amendments to Part I of its Guidance.

Summary

The JMLSG explained that the proposed amendments are intended to take account of The Money Laundering and Terrorist Financing (Amendment) Regulations 2026, as laid and yet to be made.

The proposed revisions to Part 1 of the Guidance include:

  • Paragraph 2.9: clarification of the use of ‘unusually’.
  • Paragraph 5.2.4A: exception in relation to bank insolvencies.
  • Paragraph 5.3.142 and Annex 5-V: amendments in relation to pooled client accounts.
  • Paragraphs 5.3.94A and 5.3.99: additional guidance in relation to acting on behalf of a customer.

Next steps

The JMLSG has asked for comments on the proposed revisions by 29 June 2026.